ECR Minerals PLC (AIM:ECR) has said it will pay A$60,000 in cash and A$60,000 in shares to GoldOz PL for fees owed to them as adviser in connection with the recently announced option agreement and potential acquisition of Placer Gold Pty Ltd.
ECR will issue about 3.27mln shares at 1.03p.
Last month, ECR said it had been granted a conditional option to acquire Placer Gold for A$6.9mln (£3.9mln).
READ: ECR Minerals inks deal for conditional option to acquire Hurricane Project owner Placer Gold
Placer Gold holds three mining tenements, known collectively as the Hurricane project, in Queensland, Australia.